中國金融結構與經濟結構適應性的實證檢驗

An Econometric Test of the Adaptability between the Chinese Financial Structure and Economic Structure

趙振全(Zhen-Quan Zhao) ； 于震(Zhen Yu) ； 劉淼(Miao Liu)

《管理科學與統計決策》 3卷1期 (2006/03) Pp. 80-91

https://doi.org/10.6704/JMSSD.2006.3.1.80

摘要

本文借鑒Wurgler (2000)的資本配置效率定義和描述模型，利用全國和國有工業行業1990-2003年的相關資料，估計得到了全國和國有工業行業的資本配置效率。採用絕對金融結構和相對金融結構兩種定義，全面的對我國金融結構加以刻畫，通過金融結構對於資本配置效率的解釋能力評價了金融結構與經濟結構的適應性，並提出了存在的問題。

關鍵字

金融結構 ； 資本配置效率 ； 經濟結構

並列摘要

Using the definition of asset allocation efficiency and the methodology presented in Wurgler (2000), we estimate the efficiency of capital allocation across the range of the whole country and the state-owned industrial firms through their relating data from 1990 to 2003. We adopt two definitions of absolute financial structure and relative financial structure to depict our country's financial structure. According to the extent to which the financial structure can explain the asset allocation efficiency, we evaluate the relationship between the financial structure and economic structure. Then we present the existing problems.

並列關鍵字

financial structure ； efficiency of capital allocation ； economic structure

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